Marcus savings rate up

Previously 1.55%, underlying rate, is going up to 1.75% underlying rate on 18th October.  The bonus rate on top of that is 0.25%, making the new rate 2% in total.
«13

Comments

  • Have literally almost emptied my Marcus account earlier this morning as it happens.

    Thought they'd increase it by more to be honest, a 0.2% rise isn't going to change much when there's quite a few better options out there now.
  • Arthurian said:
    Previously 1.55%, underlying rate, is going up to 1.75% underlying rate on 18th October.  The bonus rate on top of that is 0.25%, making the new rate 2% in total.
    Won't attract savers with Santander offering 0.75,pc more.
  • Yes, Santander esaver is more tempting.
  • subjecttocontract
    subjecttocontract Posts: 2,612 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    edited 14 October 2022 at 12:38PM
    Marcus easy acces at 2% is nowhere near good enough for anyone except those to lazy to move elsewhere. 
    I wouldn't be surprised if there is another Marcus rate rise very, very soon.
  • jak22
    jak22 Posts: 396 Forumite
    100 Posts Second Anniversary
    Its not really a rate to attract new deposits but they are still looked on positively - they get their own thread for a small rise for example - so it may be enough to keep existing savers from moving. There are still people mentioning they are only now moving from Chase.
  • Daliah
    Daliah Posts: 3,792 Forumite
    1,000 Posts First Anniversary Photogenic Name Dropper
    Even 2% is a bit of a non-event now.
  • pearl123
    pearl123 Posts: 2,080 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Great bank, but the rate is still too low. 
  • jaypers
    jaypers Posts: 1,022 Forumite
    1,000 Posts Third Anniversary Photogenic Name Dropper
    Too little, too late. My balance is now £1.
  • SpanishBlue
    SpanishBlue Posts: 628 Forumite
    Part of the Furniture 500 Posts Name Dropper Photogenic
    edited 14 October 2022 at 3:23PM
    I'm another one who emptied my Marcus account recently (except the obligatory £1) and moved it all over to Santander's Esaver 2.75% account.
    Cynergy have also matched Santander so a very poor response from Marcus.
  • My balance is £0.

    Marcus only classifies an account as dormant if it hasn't been accessed for 15 years.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.2K Banking & Borrowing
  • 252.8K Reduce Debt & Boost Income
  • 453.2K Spending & Discounts
  • 243.2K Work, Benefits & Business
  • 597.5K Mortgages, Homes & Bills
  • 176.5K Life & Family
  • 256.1K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.